The story
Sheba Telecom (Pvt.) Ltd. was granted license in 1989, to operate in the rural areas of 199 upazilas. The company started providing GSM service in 1998.
In July 2004, an Egypt-based company, Orascom Telecom (currently Global Telecom Holding), purchased Sheba Telecom and formed Banglalink brand, as Sheba Telecom failed to tap the business potentials in Bangladesh mainly due to a chronic feud between its Malaysian and Bangladeshi partners. The purchasing value was US$60 million, of which US$50 million for share value and US$10 million was for financial debt.
Integrated Services Ltd. (ISL), the Bangladeshi partner, was being 'officially' shown as purchasing the shares held by Technology Resources Industries (TRI) of Malaysia for $15 million. ISL then paid another $10 million to Standard Chartered Bank to settle Sheba's liabilities.
In September 2004, Orascom Telecom Holdings (currently Global Telecom Holding) purchased 100% of the shares of Sheba Telecom (Pvt.) Limited. It was acquired for US$60 million. Sheba had a base of 59,000 users, of whom 49,000 were regular when it was sold. Afterward it was re-branded and launched its services under the "Banglalink" brand on 10 February 2005.
In March 2008, Sheba Telecom (Pvt.) Limited changed its name to Orascom Telecom Bangladesh Limited, matching its parent company name.
In July 2013, following the 2011 ownership restructuring in the parent company, the company name changed for the second time to Banglalink Digital Communications Ltd.
In 2018, Netherlands based Veon Ltd (previously known as Vimpelcom) acquired Banglalink as wholly owned subsidiary.
In 2024 Banglalink sold out its tower assets to Summit Towers Ltd.
From Wikipedia’s article on Banglalink, shared under CC BY-SA 4.0.4
